Bitcoin Whales’ Exchange Withdrawals Hint at 5-Digit Prices in July

[Tnoy30]

Price performance tends to flip bullish four months after peak whale withdrawals from exchanges — and the next cycle is almost here, data shows.
Bitcoin (BTC) investors should buy BTC when whales do one thing in particular — bull runs begin several months later.

That was the latest insight from Ki Young Ju, CEO of on-chain analysis resource CryptoQuant, who revealed that when whales withdraw Bitcoin from exchanges, it’s time to enter the market.

Analyst: Buy BTC before whale cycle is up
Uploading two charts comparing Bitcoin’s 2017 and 2019 bull runs, Ki noted that the start of each uptrend came four months after a peak in whale withdrawals.

The data came via CryptoQuant’s seven-day moving average whale exchange withdrawals metric.

“BUY #BTC when whales send bitcoins out of the exchange,” he summarized in Twitter comments.
Read on: https://cointelegraph.com/news/bitcoin-whales-exchange-withdrawals-hint-at-5-digit-prices-in-july